Parking Authority Borrows $3.9M to Buy Land for Ferren Project

[Tango Two]

The city Parking Authority plans to issue $3.9 million in notes to buy two properties that will one day house a parking garage near the site of the former Ferren Mall.

The Board of Commissioners approved the resolution last week, at its June 27 meeting. The state Local Finance Board previously green-lit borrowing for the project, the parking authority’s executive director, Mitchell Karon, said.


https://www.tapinto.net/towns/new-b...-authority-borrows-3-dot-9m-to-buy-land-for-f

 

[Zak57]

Any updates on this project? I wish @Cofifa would post here more often like he used to. It was a huge pleasure to get his thoughts on everything and see the direction DEVCO was taking.

 

[RUSK97]

Yee-ikes. Borrowing 4MM to knock down property and then let it sit empty for lack of investment interest.